Call for export credit scheme

RENEWED calls have been made for a Government-backed export credit insurance scheme, as preliminary figures from the Central Statistics Office (CSO) show that the value of Irish exports fell by 6%, month-by-month in August and import values fell to a 10-year low.

The figures show a seasonally adjusted value of €3.55 billion in imports for August, representing a 4% monthly fall and a 10 year low. The 6% fall in export value – to €6.5bn – is the lowest level since December 2007. For the first seven months of 2009, exports increased by 2% to €51.3bn while import values fell 23% to €27.3bn.

Ireland’s trade surplus also took a dive in August – down from €3.25bn in July to €2.95bn.